What does retirement mean to you?

As I've mentioned a few times on here, my wife and I are retiring in 2022, we'll both be 52 years old then. The plan is to downsize (the kids will all be off to university then) and we're going to move closer to Niagara Falls and we'll be spending our winters in Florida. The original plan was not to work at all, but my wife (who is a teacher) has also thought that she might do a bit of substitute teaching here and there for some extra money (or maybe teach an online course). And I might do some part time work doing photo retouching at my current job if they'll let me. But I doubt we would do that for too long, eventually we'll realize retirement keeps us busy enough
smile.gif


But at the end of the day, the number one reason we want to scale back our workload is so we can go to Florida every winter. So even being semi retired, we could do this.
 
Originally Posted by grampi
Originally Posted by addyguy
It means an outdated, unachievable dream that is saved for spoiled baby boomers.

Most people my age (43) and younger will never retire, bc pensions, public or private, will be a thing of the past. The cost of living is so high these days, and wages so stagnant, that saving for 'retirement' is a pipe dream.

I will most likely die at my job, whatever it is.


You mean us spoiled boomers who worked all of our lives? I hardly call that spoiled, I call that getting what we earned. Envying us because the system you now have screws you over is not the answer. And BTW, retirement is not unachievable for non-boomers, you just have to save on your own...



Who changed that system so it no longer benefits incoming employees?
 
Originally Posted by quint
Originally Posted by Cujet
Retirement means not working.

If you are working, you are not retired, despite any thoughts to the contrary.

Resigning from a high stress job, and downsizing to reduce stress is not retirement or even semi-retirement.



I agree 100%. To me that just means you're financially independent. An enviable position to be in, but you arent 'retired' if you're working somewhere, no matter how menial the job is or how stress free it is or how easy it would be for you to stand up, walk out and never go back if you choose.

I used to get jealous when I would hear about people my age (51) or close to it retiring. Honestly, I dont feel that way much any more, the more people I know who retire, the less personal interest I have in the concept. I've seen too many of them "retire" and 6-7 months later I run into them and its always the same story... bored, bored, and bored. They traveled here and there, painted every room in the house, they golf 2-3 times a week, and 6 months later they are looking for something else to do. Retirement became hum-drum, that quick.

If I had a dollar for every guy in his mid-50's or 60's who retired from my company here and came back, I could probably retire myself. They are all fired up, they are going to sleep as late as they want, they are going to restore an old car, they are going to build an addition to the house, no more stress, no more putting up with crud going on here, they are going to travel here there and everywhere, rah rah rah! Uh huh. Its the running joke around here, when people retire and they have the retirement party in the conference room or at a local bar, "See you in six months when you start dying of boredom". And just like clockwork, six, seven or eight months later here they come. At least 40-50% of them, and thats probably a way low number.

My dad retired from aerospace engineering in the 1990's, and for the last 10 years or so he had been working in a sporting goods store and finally quit working last year at age 84, after much persuasion from myself and my siblings. We wanted him to quit working and do whatever he wanted do to. Well, apparently he already was doing what he wanted to do. I talked to him a few days ago about a car issue he was having, and he mentioned he had to get up early the next day for his physical. I told him to reschedule it for later in the day if he didnt feel like getting up early, he said no they need it for the paperwork to go through, he has to turn it in, etc etc . At this point I was like "What paperwork? Turn it in to who? What are you talking about?" and he says "Oh, yea I'm going back to work, this is a pre-employment physical. I'm going back to the store to work part time". He will be 86 next month, going back to work 20+ hours a week at the sporting goods store he worked at. I asked him why in the world he is going back to work at his age, I asked if he is short on money, does he need help, nope. Same old thing.... he's bored. He's already golfed every course around here, fished every lake and stream within 100 miles, he had been all around the globe in the military and traveled wherever so he's pretty much over that. Everything was been there done that. He says he just needs something to do on a daily basis. He has said several times "retirement sounds nice, I just dont find it all its cracked up to be". Well that lasted what, two years?

If my physical and mental health holds up as well as his, I'm sure I'll be walking in his footsteps if I live to be his age. I hope.

I don't know where you live, or who you associate with, but I've never known anyone who's retired and ended up going back to work because of boredom. I've seen where people had to go back to work because they needed the money, but no one I know who was financially set in retirement worked. I'm won't be working either. I'd do volunteer work before I went back to an actual paying job, but I don't think boredom is going to be a problem for me...
 
Originally Posted by jeepman3071
Originally Posted by grampi
Originally Posted by addyguy
It means an outdated, unachievable dream that is saved for spoiled baby boomers.

Most people my age (43) and younger will never retire, bc pensions, public or private, will be a thing of the past. The cost of living is so high these days, and wages so stagnant, that saving for 'retirement' is a pipe dream.

I will most likely die at my job, whatever it is.


You mean us spoiled boomers who worked all of our lives? I hardly call that spoiled, I call that getting what we earned. Envying us because the system you now have screws you over is not the answer. And BTW, retirement is not unachievable for non-boomers, you just have to save on your own...



Who changed that system so it no longer benefits incoming employees?


Certainly not me...
 
Originally Posted by addyguy
It means an outdated, unachievable dream that is saved for spoiled baby boomers.

Most people my age (43) and younger will never retire, bc pensions, public or private, will be a thing of the past. The cost of living is so high these days, and wages so stagnant, that saving for 'retirement' is a pipe dream.

I will most likely die at my job, whatever it is.


I'm sorry for you, but while blaming "baby boomers" may assuage your emotions, it will never be a formula for your future success.

It's easily achievable, if you choose to achieve it.

If you were relying on the Government, or your company, to achieve it, well, then that's your mistake. Nobody "owed" you a retirement. It was yours to achieve.

I've been planning for it for 30 years, contributing to it, preparing through education, budgeting, etc. In another 10 years, or so, I will have EARNED it. It wasn't given to me.

See the difference?

In failing to prepare, you have failed.

In blaming others, you have avoided confronting your own responsibility, and you will continue to fail.

Don't tell me how "hard" it's been for you, that's a cop-out. Plain and simple.

I gave up a lot, did without a lot, for the past three decades. Carving out the money to invest for the future, when my income was modest, when my wife stayed at home to raise our children, and I was driving a 25 year old Ford, without AC, in Virginia Beach, was hard, too.

I've got a great financial planner. PM me if you want to change your situation. I'll give you his number.
 
Last edited:
I retired at 100% of my final salary- with health insurance included for my wife and son. I definitely didn't need to go back to work. I chose to do so because I wanted some new and different challenges. I enjoyed my last part-time gig and would have stayed there indefinitely had I not jumped back into the political fray.
 
Originally Posted by addyguy
It means an outdated, unachievable dream that is saved for spoiled baby boomers.

Most people my age (43) and younger will never retire, bc pensions, public or private, will be a thing of the past. The cost of living is so high these days, and wages so stagnant, that saving for 'retirement' is a pipe dream.

I will most likely die at my job, whatever it is.


How much have you been saving every year? I remember seeing this type of chart when I was in my 20's. The earlier you start, the less you have to save each month to reach the same retirement goal. And this chart has a conservative growth rate. Stock markets have done around 10-15% over the last 10-20 years with some 30% plus years thrown in. You don't need pensions to retire, you just need to save. You basically need to save 4 times as much to hit a retirement goal of 67 at 40 than if you started 20 years earlier.

https://www.cnbc.com/2018/10/03/how...th-to-retire-with-1-point-5-million.html
 
Originally Posted by MCompact
I retired at 100% of my final salary- with health insurance included for my wife and son. I definitely didn't need to go back to work. I chose to do so because I wanted some new and different challenges. I enjoyed my last part-time gig and would have stayed there indefinitely had I not jumped back into the political fray.


Retiring at 100% of your final salary is almost unheard of, that's great! I will retire at about 70-75% of my final salary, but I will actually have more than double the disposable income after I retire due to having far less expenses.
 
Originally Posted by ZZman
Does it mean never working again?
Not having to work to live?
Travel and leisure activities?

I "retired" from my full time job at 55. However I still work 3 part time jobs now as I am too young to not work and am still physically able to. However I will probably take SS at 62 and stop working.

I think true retirement to me is not working at all.


I too retired at 55. Will be receiving my 3rd Social Security check this month. (I took it at 62 as well). I guess the quality of your retirement depends on your pocketbook. The wife and I travel with our truck and travel trailer-all around the U.S. We have cruised to the other side of the Atlantic-which included the Baltic States, Russia, and Copenhagen, Denmark.

In June we are flying back to Ohio-visit some family. We have a car rented and after that we are going to Nashville-then driving through the South to Fort Lauderdale. We will board a cruise ship and sail up the East Coast with Stops all along the East Coast-then on to Nova Scotia, and Quebec.

There is a small chance I would HAVE TO go back to work-depending how Obamacare is dismantled and what it is replaced with.

The wife and I worked very, very hard to achieve what we have. No fat inheritance here.

For those of you that are saying - Retirement=Death, I feel very sorry for you.
 
Last edited:
Originally Posted by CKN
Originally Posted by ZZman
Does it mean never working again?
Not having to work to live?
Travel and leisure activities?

I "retired" from my full time job at 55. However I still work 3 part time jobs now as I am too young to not work and am still physically able to. However I will probably take SS at 62 and stop working.

I think true retirement to me is not working at all.


I too retired at 55. Will be receiving my 3rd Social Security check this month. (I took it at 62 as well). I guess the quality of your retirement depends on your pocketbook. The wife and I travel with our truck and travel trailer-all around the U.S. We have cruised to the other side of the Atlantic-which included the Baltic States, Russia, and Copenhagen, Denmark.

In June we are flying back to Ohio-visit some family. We have a car rented and after that we are going to Nashville-then driving through the South to Fort Lauderdale. We will board a cruise ship and sail up the East Coast with Stops all along the East Coast-then on to Nova Scotia, and Quebec.

There is a small chance I would HAVE TO go back to work-depending how Obamacare is dismantled and what it is replaced with.

The wife and I worked very, very hard to achieve what we have. No fat inheritance here.

For those of you that are saying - Retirement=Death, I feel very sorry for you.


If Owebamacare is dismantled, that should be a good thing for your wallet....it is the worst thing that's ever happened to our healthcare system...
 
Originally Posted by grampi
Originally Posted by CKN
Originally Posted by ZZman
Does it mean never working again?
Not having to work to live?
Travel and leisure activities?

I "retired" from my full time job at 55. However I still work 3 part time jobs now as I am too young to not work and am still physically able to. However I will probably take SS at 62 and stop working.

I think true retirement to me is not working at all.


I too retired at 55. Will be receiving my 3rd Social Security check this month. (I took it at 62 as well). I guess the quality of your retirement depends on your pocketbook. The wife and I travel with our truck and travel trailer-all around the U.S. We have cruised to the other side of the Atlantic-which included the Baltic States, Russia, and Copenhagen, Denmark.

In June we are flying back to Ohio-visit some family. We have a car rented and after that we are going to Nashville-then driving through the South to Fort Lauderdale. We will board a cruise ship and sail up the East Coast with Stops all along the East Coast-then on to Nova Scotia, and Quebec.

There is a small chance I would HAVE TO go back to work-depending how Obamacare is dismantled and what it is replaced with.

The wife and I worked very, very hard to achieve what we have. No fat inheritance here.

For those of you that are saying - Retirement=Death, I feel very sorry for you.


If Owebamacare is dismantled, that should be a good thing for your wallet....it is the worst thing that's ever happened to our healthcare system...


Don't want to get political. But yes-my health care is expensive but it covers pre-exisitng conditions. Enough said.
 
Originally Posted by Mr Nice
CKN,

How old are you ?


I am three years from Medicare.
 
Originally Posted by grampi
If Obamacare is dismantled, that should be a good thing for your wallet....it is the worst thing that's ever happened to our healthcare system...


You have to speak for yourself. Being self employed, my rates were shooting up every year. Went down afterwards.
 
I agree with Astro14. I'm 40 and admit both my wife and I had a hand up from our parents with respect to earning my first university degree. Since I started working professionally 19 years ago I've worked hard, expanded my professional network, and found employers to pay for my Master degree (one employer not only paid tuition and books, but also a financial bonus at the completion of each class). My employers have always paid at least 6% of my gross salary to my pension plan and I match and often contribute much more. I acknowledge that the educational support from our parents helped, but we also work very hard to make our own luck. It's rewarding to have two kids in activities, a nice house, newer vehicles, and a plan to retire very comfortably in 15-20 years....and not blame and moan about how much better the Baby Boomers had it.

Originally Posted by Astro14
Originally Posted by addyguy
It means an outdated, unachievable dream that is saved for spoiled baby boomers.

Most people my age (43) and younger will never retire, bc pensions, public or private, will be a thing of the past. The cost of living is so high these days, and wages so stagnant, that saving for 'retirement' is a pipe dream.

I will most likely die at my job, whatever it is.


I'm sorry for you, but while blaming "baby boomers" may assuage your emotions, it will never be a formula for your future success.

It's easily achievable, if you choose to achieve it.

If you were relying on the Government, or your company, to achieve it, well, then that's your mistake. Nobody "owed" you a retirement. It was yours to achieve.

I've been planning for it for 30 years, contributing to it, preparing through education, budgeting, etc. In another 10 years, or so, I will have EARNED it. It wasn't given to me.

See the difference?

In failing to prepare, you have failed.

In blaming others, you have avoided confronting your own responsibility, and you will continue to fail.

Don't tell me how "hard" it's been for you, that's a cop-out. Plain and simple.

I gave up a lot, did without a lot, for the past three decades. Carving out the money to invest for the future, when my income was modest, when my wife stayed at home to raise our children, and I was driving a 25 year old Ford, without AC, in Virginia Beach, was hard, too.

I've got a great financial planner. PM me if you want to change your situation. I'll give you his number.
 
Last edited:
Originally Posted by Wolf359
Originally Posted by grampi
If Obamacare is dismantled, that should be a good thing for your wallet....it is the worst thing that's ever happened to our healthcare system...


You have to speak for yourself. Being self employed, my rates were shooting up every year. Went down afterwards.


You must fall into the 10% category. For the other 90%, Owebamacare makes everything more expensive...
 
Originally Posted by grampi
Originally Posted by Wolf359
Originally Posted by grampi
If Obamacare is dismantled, that should be a good thing for your wallet....it is the worst thing that's ever happened to our healthcare system...


You have to speak for yourself. Being self employed, my rates were shooting up every year. Went down afterwards.


You must fall into the 10% category. For the other 90%, Owebamacare makes everything more expensive...


So it's funny it's the worst for you but not me. Also number of uninsured went down. The definition of worst thing seems variable.

You can't make omelets without breaking eggs.
 
I think Grampi might be assuming that the high deductible plans are because of Obamacare.

They are not. They existed long before. The biggest impact one would have felt was if they were buying a cheap but useless plan that didn't cover much. Obamacare mandated some minimum requirements one of which was disallowing denial of care due to existing health conditions.
 
Back
Top